The company seeking funds to invest in farms says its focus is broader than just New Zealand.
Southern Pastures managing director Prem Maan said in a written response to questions that New Zealand farms may not be the highest-yielding opportunity, so it intends looking for rural investments throughout the southern hemisphere.
Auckland-based Southern Pastures intends investing in farms to take advantage of growing demand for food from a projected increase in the global population, the expanding middle class in Asia and pressure on the area of farm land.
In a document obtained by the Otago Daily Times, Southern Pastures said it hoped to raise $500 million from within New Zealand and overseas, with an investment bias towards New Zealand.
But, in the statement supplied on Monday night, Mr Maan said the earlier document was a "market-testing flyer" and Southern Pastures has subsequently not stated a target it wishes to raise.
"The important thing is the quality rather than the quantum of the investment," he said.
Mr Maan also described as "premature" earlier state-ments that state-owned-enterprise Landcorp would manage its farms, saying such a decision depended on where the farms were located and what type of farms they were.
"There are a number of options available to us.
"We have the utmost respect for Landcorp and its farming capabilities."
Landcorp manages 105 dairy, sheep, beef and deer farms on 375,000ha throughout New Zealand.
The earlier document also hinted at future investments in further processing, and of cementing relationships with overseas companies and countries, points Mr Maan has since downplayed.
"We have no plans to invest in processing as we feel that there are already highly competent organisations doing this."
Asked about developing connections with off-shore customers, Mr Maan said none had been arranged "and neither are we seeking to displace or directly compete with any existing New Zealand supplier of New Zealand products".
Mr Maan said Southern Pastures would work with the Overseas Investment Office to ensure it complied with the law, given it would have a mix of foreign and local investors.
He was confident the business would be of benefit to New Zealand.
